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Re: When figuring depreciation of my home for my home business, do I use the cost of my home I paid 20yrs ago or the current value of my home?
AmeliesUncle
Level 15
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Deductions & credits
You use the LOWER of:
Your Adjusted Basis (usually you original purchase price, plus cost of improvements, minus any prior depreciation, or
The Fair Market Value when you started using it for business.
‎July 16, 2020
11:22 AM
